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Biotech / Medical : Millennium Pharmaceuticals, Inc. (MLNM)
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From: Icebrg1/12/2005 9:10:49 AM
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Millennium Pharmaceuticals (MLNM) was downgraded by Lehman Brothers to "underweight" from "equal-weight" and cut its 12-month price target on the stock to $8. "With Velcade sales now expected to be less than $200 million in 2005 and apparently unimpressive data in lung cancer, we are hard pressed to see MLNM achieving profitability in 2006," the broker told clients.
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